Business Segments (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Business Segments - Financial Information

The following tables summarize selected financial information relating to the Company’s business segments (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Revenues:
Contract drilling	$	270,487		$	115,235		$	429,542		$	283,992
Pressure pumping		290,044			73,950			431,218			170,263
Other operations (a)		19,642			4,722			25,260			8,689
Elimination of intercompany revenues (b)		(987	)		—			(1,659	)		(98	)
Total revenues	$	579,186		$	193,907		$	884,361		$	462,846
Income (loss) before income taxes:
Contract drilling	$	(73,362	)	$	(70,449	)	$	(135,068	)	$	(105,545	)
Pressure pumping		4,636			(46,025	)		(18,255	)		(89,984	)
Other operations		(4,563	)		740			(6,514	)		(2,491	)
Corporate		(68,753	)		(13,420	)		(87,748	)		(27,738	)
Other operating income, net (c)		1,806			4,822			14,710			6,167
Interest income		642			100			1,048			210
Interest expense		(9,075	)		(10,678	)		(17,345	)		(21,478	)
Other		131			17			148			33
Loss before income taxes	$	(148,538	)	$	(134,893	)	$	(249,024	)	$	(240,826	)
Depreciation, depletion, amortization and impairment
Contract drilling	$	161,414		$	120,402		$	271,973		$	241,501
Pressure pumping		47,805			47,400			90,055			96,970
Other operations		8,120			1,805			10,292			6,537
Corporate		1,989			1,368			3,225			2,737
Total depreciation, depletion, amortization and impairment	$	219,328		$	170,975		$	375,545		$	347,745
Capital expenditures
Contract drilling	$	71,326		$	16,570		$	115,547		$	28,450
Pressure pumping		38,780			11,780			58,193			19,332
Other operations		8,017			1,692			12,369			3,220
Corporate		227			491			681			832
Total capital expenditures	$	118,350		$	30,533		$	186,790		$	51,834

	June 30,		December 31,
	2017		2016
Identifiable assets:
Contract drilling	$	3,943,899	$	3,032,819
Pressure pumping		1,166,406		653,630
Other operations		164,200		48,885
Corporate (d)		129,551		36,957
Total assets	$	5,404,056	$	3,772,291

(a) Other operations includes the Company’s oilfield rental tools business, pipe handling components and related technology business, the oil and natural gas working interests and the Middle East/North Africa business.

(b) For 2016, intercompany revenues consists of contract drilling intercompany revenues for services provided to other operations. For 2017, intercompany revenues also includes revenues from other operations for services provided to contract drilling, pressure pumping and within other operations.

(c) Other operating income includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group.  Accordingly, the related gains have been excluded from the operating results of specific segments.  This caption also includes expenses related to certain legal settlements net of insurance reimbursements.  

(d) Corporate assets primarily include cash on hand and certain property and equipment.